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Z-Tech (India) Ltd

Q4 FY26

Z-Tech (India) Q4 FY26 earnings call: Revenue & Margins

Q4 FY26 earnings call: what management said on revenue, margins and capex.

Price₹494

Market cap₹752 Cr

P/E21.0

Updated23 Aug 2026

Read4 min read

What the Q4 FY26 call signalled

4 of 5 strong

RevenueStrong growth

MarginMargins up

CapexCapex planned

FundraiseNo fundraise planned

Order bookOrder book rising

The short version

Recurring revenue expected to grow significantly from INR 8 crores in FY26 to around INR 40-42 crores in FY27. Revenue expected to grow from INR43 crores this year to INR75 crores in FY27.

From Z-Tech (India) Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Strong growth

Recurring revenue expected to grow significantly from INR 8 crores in FY26 to around INR 40-42 crores in FY27.
Creative parks revenue projected at INR 135-140 crores in FY27.
Overall company revenue guidance for FY27 is INR 250-260 crores.
Expansion plan includes increasing operational parks from around 15 to approximately 30 by March 2027.
Footfall expected to rise from 12 lakh visitors in FY26 to around 50 lakh visitors in FY27.
Average Revenue Per User (ARPU) target of INR 100, contributing to recurring revenue growth.

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Profitability & Margins

Revenue expected to grow from INR43 crores this year to INR75 crores in FY27.
Minimum 2 percentage point enhancement in margins anticipated in the coming financial year.
Recurring revenue from park business projected to increase significantly from INR8 crores to around INR42 crores in FY27.
EPC business revenue expected to be around INR135 crores plus in FY27.
EBITDA margins for recurring (O&M) business around 50%, parks EBITDA margin approximately 38%, and engineered infra (EPC) margins around 11%-12%.
PAT in Q4 FY26 was INR19.19 crores; previous guidance was INR20 crores, with deviation mainly due to depreciation and tax impacts.

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Capital Expenditure Plans

Capex planned

The company has capitalized INR32 crores related to PPP projects due to commissioning of various parks (Page 16).
Capital expenditure mainly related to equipment machinery purchase for the Geotech business, supporting faster growth (Pages 14-15).
No additional debt planned for capex; current debt is primarily to fund equipment for Geotech and working capital (Pages 14-15).
No plans to increase debt; focus is on improving working capital cycle and recovering stuck debtors (Page 15).
Plans to operationalize 15 new parks in FY27, with average run time considered for revenue projections (Pages 7-8).

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Fundraising & Capital Structure

Z-Tech India Limited does not plan to increase debt in the near future; current debt primarily funds equipment for the Geotech business and working capital.
The company expects the working capital cycle to improve, leading to better receivables recovery.
There is no intention to raise additional debt as the current borrowing level of approximately INR75 crores is sufficient.
Internal accruals and falling security deposit retentions will help fund future growth.

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Order Book & Pipeline

Order book rising

The company has a strong and healthy order book, prioritizing parks where government alignment is strong (Page 14).
After opening 7 parks in Uttar Pradesh, there are active leads converting into tender stages for about 20 more parks across 18-19 cities in Uttar Pradesh (Page 10).
Additionally, there are projects progressing in Gujarat (Gandhinagar, Ahmedabad, Jamnagar, Vadodara, Rajkot) and Maharashtra (Sambhajinagar, Ahilyabai Nagar, Panvel, Kalyan-Dombivli, Thane, Navi Mumbai, Palghar) (Page 10).

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Z-Tech (India) Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹59 Cr, net profit ₹19 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Z-Tech (India) Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Z-Tech (India) Ltd Q4 FY26 results?

Recurring revenue expected to grow significantly from INR 8 crores in FY26 to around INR 40-42 crores in FY27. Revenue expected to grow from INR43 crores this year to INR75 crores in FY27.

What is Z-Tech (India) Ltd share price analysis?

Z-Tech (India) Ltd currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 21.0 with a market cap of ₹752 Cr. Investors should review the full earnings analysis for detailed insights.

Is Z-Tech (India) Ltd planning capital expenditure?

The company has capitalized INR32 crores related to PPP projects due to commissioning of various parks (Page 16).

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.